Dr. Alan Garber, president and interim president of Harvard University, earned millions of dollars while serving on the board of directors of a pharmaceutical company.
Mr. Gerber earned more than $2.7 million serving on the board of a pharmaceutical company. Exelixis Co., Ltd. and vertex pharmaceuticals Since becoming president of Harvard University in 2011, the Harvard Crimson report He cited the company's filings with the Securities and Exchange Commission (SEC) in 2019.
Both companies confirmed to the press that Mr. Gerber received compensation without performing any additional duties other than as a member of the board of directors.
CAMBRIDGE, MA – JUNE 29: People walk through the gates of Harvard Yard on the Harvard University campus on June 29, 2023 in Cambridge, Massachusetts. The U.S. Supreme Court has ruled that Harvard University and the University of North Carolina's race-sensitive admissions policies violate the Constitution, putting an end to affirmative action in higher education. (Photo by Scott Eisen/Getty Images)
He joined Exelixis' board of directors in 2005 and received $2.3 million from the company. Of that, he earned $1.6 million after he joined Harvard University in 2011 as president and chief academic officer. From 2017 to 2018, Mr. Gerber earned approximately $1.2 million in cash and cash from his Vertex. stock option.
According to The Crimson, Vertex said at the June 2017 annual meeting that “the insights he has developed as a health policy expert and as an advisor to government agencies will inform the board of directors about the issues facing the company. He will provide an important perspective,” he said of Gerber.
Mr. Garber continues to serve on the boards of Exelixis and Vertex. The companies did not respond to requests for comment.
apex Market capitalization Approximately $105 billion, specialize in developing Treatment The website states that it is effective against serious diseases such as cystic fibrosis. Exelixis has approximately $7 billion in assets Market capitalization is focused on developing next-generation cancer treatments. Website.
At Harvard, he said, Garber oversees academics, faculty and research, international affairs, and academic advancement. Official biography. Mr. Gerber is an economist and physician who holds professorships and deanships at Harvard Medical School, School of Public Health, College of Arts and Sciences, and Kennedy School of Government.
he Previously He is a professor of economics and medicine at Stanford University, where he received his MD in 1983. He also earned a PhD in economics from Harvard University, after receiving his bachelor's degree from Harvard University in 1976. His research focuses on improving health care delivery for older adults, particularly in low-resource settings. limited.
WASHINGTON, DC – DECEMBER 5: Harvard University President Dr. Claudine Gay testifies before the House Education and Labor Committee at the Rayburn House Office Building on December 5, 2023 in Washington, DC. The committee held hearings investigating anti-Semitism on college campuses. (Photo by Kevin Dietsch/Getty Images)
He is taking over the position at Harvard University. interim president This comes after former Harvard University President Claudine Gay resigned on Tuesday following numerous plagiarism accusations.
Gay blamed his resignation on “racial hostility” and did not apologize for plagiarism allegations throughout his university career. (Related: Harvard University President Accused of Plagiarism, Issues Correction of Article Containing “Quotation Marks and Quotations”)
“We are also grateful to President and Chief Academic Officer Alan M. Garber, who has served successfully in that role for the past 12 years and has agreed to serve as interim president until a new leader for Harvard is identified and installed. We are also grateful to the Harvard University Office. statement I mourn Gaye's resignation.
Harvard University did not immediately respond to a request for further comment.
